Spreads on dollar-denominated debt fell by 200 basis points during the second half of 2002 and the first half of 2003.4 Spreads on international bond issues by Latin American borrowers, which had risen sharply with the Argentine default and the political uncertainties in Brazil, declined considerably.
Los márgenes de riesgo del endeudamiento en dólares disminuyeron 200 puntos básicos durante la segunda mitad de 2002 y la primera mitad de 20034.